# UOP ﻿ACC 561 Week 4 Assignment Wiley PLUS

## UOP ﻿ACC 561 Week 4 Assignment Wiley PLUS

﻿ACC 561 Week 4 Assignment Wiley PLUS

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Exercise 15-5
Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total \$277,640 for the year, and machine usage is estimated at 126,200 hours.

For the year, \$291,977 of overhead costs are incurred and 130,300 hours are used.
(a). Compute the manufacturing overhead rate for the year. (Round answers to 2 decimal places, e.g. 1.25.)
(b)  What is the amount of under- or overapplied overhead at December 31?
(c) Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Exercise 16-3
ledger of Custer Company has the following work in process account.
Work in Process—Painting
5/1     Balance     3,870      5/31    Transferred out    ?
5/31     Materials     6,750
5/31     Labor     4,800